Arden Partners PLC - corporate adviser and multi-service stockbroker based in London - Enters discussion with Ince Group PLC following the rejection of its Nominated Advisers status application by the London Stock Exchange. Arden says it is discussing the implications of the LSE decision with Ince.
On October 26, Ince and Arden announced that they had reached agreement on the terms of an all share offer by Ince for the entire share capital of Arden via a court-sanctioned scheme of arrangement. A condition of the scheme was LSE determining that, following the change of control, Arden remains eligible to act as a Nominated Adviser. LSE notified Arden that its NOMAD application in relation to the change of control had not been approved on Wednesday.
Current Arden stock price: 13.00 pence
12-month change: down 10%
Current Ince stock price: 27.60 pence
12-month change: down 63%
By Heather Rydings; heatherrydings@alliancenews.com
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